Tag Archives: NBG

According to the National Bank, nonbank deposits volume in the banking sector hit 19bln GEL as of November 1, 2017, up 645.2mln GEL (+3.5%) as compared to the October 1 indicator (up 0.6% without the exchange rate effect). In October, as compared to the previous month, term deposits grew by …

Key objective of National Bank of Georgia (NBG) is to maintain stable prices as a main precondition for long-term economic growth and for creating new job places, NBG President Koba Gvenetadze said. Annual inflation rose and constituted 7.1% in June 2017. According to NBG information, the inflation rose because of …

On October 18, Ministry of Finance sold 20 million GEL T-bills with 10-year maturity period. According to National Bank of Georgia (NBG), three commercial banks took part in the T-bill auction. The demand constituted 36 120 000 GEL, while the bottom interest rate totaled 8.950%, the top rate hit 9.380%, …

High deficit in the 2018 state budget does not create inflation risks, the report by NBG on Georgian State Budget Law reads. “The 2018 state budget deficit grows by 60 million GEL to 1.374 million GEL. The consolidated budget bill is planned at 3.7% in relation to the 2018 forecast …

Dimitri Kumsishvili, Georgia’s first vice Prime Minister and Minister of Finance, and Koba Gvenetadze, president of National Bank of Georgia (NBG), discussed capital market development issues with representatives of EBRD. The meeting was held in Washington, the USA, as part of the annual meeting of IMF and World Bank. At …

National Bank of Georgia (NBG) warns Georgian citizens that corporate bonds are not insured by either government or NBG guarantees. According to NBG, the website ubani.ge has spread a securities offer with erroneous and misleading information that does not comply with Georgian legislation requirements for securities market. We remind you …

Several days ago National Bank of Georgia (NBG) released a special statement promulgating that corporate bonds are not insured by either Government or NBG guarantees. Therefore, NBG warns the population to show caution when purchasing bonds. Issuance of corporate bonds started in 2014 and several companies have already issued similar …

Under the National Bank’s resolution N5 passed on October 4, 2017, starting January 1, 2018, coins of 50 Tetri nomination issued in 1995 will lose legal force for payment. The so-called Golden 50-Tetri coin comprises a griffon image and the inscription of TETRI on the head side, while on the …

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on September 6, 2017 and decided to keep the refinancing rate unchanged at 7 percent. The inflation dynamics is in accord with the existing forecast. The annual inflation in August has decreased to 5.7%. According to the …

GEL/USD turnover has shrunk on currency market. Without NBG interventions (70 million USD), in June the contraction constituted 29% month on month (-33 million USD). According to Monthly Review of NBG, number of deals between market players has decreased (-32% month on month; -19% year on year). Currency market concentration …

National Bank of Georgia said it kept its key interest rate unchanged at 7 percent on Wednesday, based on forecasts showing annual inflation exceeding its target of 4 percent this year. Consumer prices were up 7.1 percent in annual terms in June, 0.4 percent lower from the previous month. “Rising …

The volume of Georgian foreign assets is increased up to 2.956 billion USD, it is the highest rate after November, 2013. Reserve assets increased by 13 million USD through 1 month, while the increase is 10 million y-o-y. Major shares of reserves – 2.753 billion USD account for foreign exchange …